The H.U.R.D. Casting Network - Helping yoU Reach Dreams Message Board › Alert - Against HB731 as Amended
Baton Rouge, LA
I am against HB731, because HB731 as Amended in its current posture would cause production to leave, resulting in loss of jobs, business, industry, etc. The bill has good parts in order to track our industry and statistics, but until the fatal Amendments below is corrected, I will call it Economy Buster.
Three reasons I am against HB731 as Amended and as it stands now:
1. We request the Legislature to raise the Investor Tax Credit, because as Bill as Amended now is dropping the base, where credits are calculated. The credits are being calculated only upon dollars spent here; whereas before such, in present law, the credits are calculated as per the total budget of the production. I suggest 30%. 25% flat sounds great, but not when you drastically drop the base for which you calculate the credits.
2. We request the Legislature to delete what is called "The Redeemable Credit Provision." This provision would choke out those who are the very ones providing financial capital into Louisiana from all over the world. These private individuals and firms are using their own money and capital to foot the cost of such in order to market and promote Louisiana by attracting film producers and industry to come here. I call these our angel ambassadors who are our source of captiol funding. They are the ones who carried the load, as well as Mark Smith, who as one of them, is doing a great job.
3. We request that the Infrastructure Tax Credit percentages be significantly increased for at least two years in order to attract, facilitate, and nourish growth of the so necessary infrastructure. After 2 years after we have time to get sound footing and have a full healty industry, then go back down to 15%.